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LiveMore triples revenue and doubles lending in 2024

17 December 2024

By the end of 2024, LiveMore, the mortgage lender for people aged 50 to 90 plus, estimates that it will have generated year-on-year growth of 300% in revenue and 100% in lending.

It has been a significant year for the four-year old firm, which has recently moved to new offices in central London.

In June, LiveMore launched its first securitisation, generating £208m in wholesale funding and becoming the first mortgage lender in the UK to securitise retirement interest-only (RIO) mortgages. The securitisation demonstrated not only LiveMore’s significant growth over the years, but it also showed market confidence in later life lending as a financially sound investment.

Technology played a major role in the business in 2024, as LiveMore developed inhouse the market-leading AI-driven LiveMore Mortgage Matcher® to help brokers easily find suitable product options for each client according to their specific financial situation and individual needs. Unlike any other online tool geared at later-life borrowers, the Mortgage Matcher searches LiveMore’s 200 plus products spanning standard interest-only, standard capital and repayment, RIO and lifetime (equity release) mortgages. This search across all four products and the resulting documentable PDF that brokers can give to their clients, helps support brokers with providing good customer outcomes in line with the Consumer Duty.

Leon Diamond, founder and CEO of LiveMore, said: “Everything we do is to reduce inequality and serve the social purpose of lending to people aged 50 to 90 plus who are typically underserved by other lenders. We are founded on the belief that if people can afford a mortgage that is right for them, their age should never be an issue.

“A critical element of our business is constantly looking at how we can support brokers, giving them the tools they need to cut through the complexities of the increasingly mainstream later life market so they can take full advantage of its enormous opportunities. 78% of housing wealth is owned by the over-50s while the value of home equity in the over-65 age bracket is around £2.6tn. The opportunities are immense in mid and later life lending.”

LiveMore figures showed that brokers using the Mortgage Matcher saw a 41% increase in the loan amount they can offer clients and a 33% uplift in the maximum amount a client can borrow. The figures also revealed 41% more instances of intermediaries changing product at the maximum borrowing calculator stage of the process.

The Mortgage Matcher is free to brokers, who can find it on the LiveMore website at livemoremortgages.com/lmm. It works in conjunction with the affordability calculator.